The demand for aluminium in both domestic and international markets will sustain the price of the commodity at its present levels. Aluminium has touched a low of Rs 94.4 a kg after opening at Rs 101.4, and last traded at Rs94.9.For today market is looking for the support at 92.4, a break below could see a test of 89.8 and where as resistance is now likely to be seen at 99.5, a move above could see prices testing 104.1.

Trading Ideas:

Aluminium trading range is 89.8-104.1.

Aluminium prices likely to rise 8% on high demand

Support for aluminium is at 93.80 and resistance is at 96.10 level.

Aluminium daily stock at Shanghai exchange remained unchanged.

SELL ALUMINIUM APR @ 96 SL 98.20 TGT 94.50-92.50.MCX